It’s launched an accelerator, acquired German social TV startup TunedIn, invested in startup competition hy! Berlin and collaborated with Silicon Valley investor and accelerator Plug and Play Tech Center. Now, German media conglomerate Axel Springer has announced its next move to becoming more involved in the startup scene: A cooperation with popular coworking space Betahaus.
The countdown to the closing date for applications to Axel Springer’s new three-month accelerator programme, Axel Springer Plug and Play, is on – entrepreneurs have until 19 April to get in. The new collaboration with Betahaus means that as well as being able to participate in the sessions at the Kreuzberg-based coworking space, startups in Plug and Play can also work there for free for a month post accelerator programme.
Teams from Plug and Play will be able to participate in Betahaus’ betapitch global competition in Berlin on 6 July, where they’ll compete against startups from the six international locations of Betahaus.
The startups will also receive initial financing of €25,000, along with coaching from mentors, workshops and access to an international network of partners. The programme concludes with a demo day in front of investors. Axel Springer normally takes a five per cent stake in the companies in an effort to get involved in young startups early.
Axel Springer Plug and Play is just one of a growing number of startup incubators and accelerators popping up in Berlin – fellow media conglomerate ProSiebenSat. 1 launched a new accelerator and incubator, Epic Companies, earlier this year, while Deutsche Telekom was a forerunner with its accelerator, hubraum.
On how the Axel Springer programme is differentiating itself from the competition, founding Managing Director Ulrich Schmitz told VentureVillage in an earlier interview: “We’ve teamed up with a Silicon Valley accelerator to connect the Berlin ecosystem with the Silicon Valley ecosystem, which is definitely an advantage.”
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